WyckoffTrader-AMTurn-02082024
YES. I have skin in the game. I trade my own personal account. Sardine / Tuna / Billfish trades are for educational purposes only. I am NOT a futures broker and do not manage any accounts. It is my intent to show where trades may occur. What you do is up to you. You can follow my IDEAS to profit or loss. You determine trade size, when, where and how you trade. (CFTC) Futures is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest, know how much you can afford to lose.
NEWS / FUNDAMENTALS
(Reuters)
After ending Tuesday's choppy trading session modestly higher, stocks showed a strong move to the upside during trading on Wednesday. The Dow and the S&P 500 set new record closing highs, with the latter reaching an intraday peak just shy of 5,000.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From yesterday page 3: "Strategy: Price held the 56 then globex put in tested 83 higher high. Pulled back to above the daily pivot of 71. Now printing a higher 89 handle. Bullish behavior. Look to short the 90 on a first touch. The high of 95 to 97 lookes to be tested. We are at all time highs again. Get long on successful pull back to 79 to 68.
Edge: Could see a move back up to test the Monday's highs. (finaly)
Shape of the day: Normally holding previous day's gains. Today perhaps taking out all time highs and stalling.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW"
That just about laid it out. It was a bullish day. Globex gaped price up and well only gave back 3/8 from the close to open. That's a bullish day.
The spill up sealed at the opening print. THe AM LOW was early and weak at 10:10 am. The MID AM HIGH was center time at 10L30 am. Next the lunch low comes in at 12:30 pm (an hour early). And we wait. We wait for the constant grind up.
Traders tried to short it but bulls would not give in. The mid pm high came in late and strong at 2:55 pm. Next we are looking for the LAST HOUR HIGH. And where does it print? About 3:55 pm late and strong.
This content is 100 percent Human Made Organic (HMO)
We are wrapping up this year and grinding into
the next. If Momma gets thrown from the train
1. Average an aggressive market cam move about 150 points in one day.
2. If Algo's decide to go all out REO and "Take It All Away" you could see a 500, 800 to God help us 1,300 point move in a day, across days or a week. Perhaps a month if there is no bid in sight.
3. That is if this market starts to take notice on the news and current events.
Until then…Don't miss any Future FREE Webinar invites or Daily email UPDATES.
Please be sure and "white list"
feedback@wyckoffamtrader.com
trader@wyckoffamtrader.com
demio@wyckoffamtrader.com
so I don't get lost in your email inbox (Junk and SPAM folders)
good morning today is SERIES S4H with the spill down.
News: Jobless Claims & Thomas Barkin Speaks at 8:30, Wholesale Inventories at 10:00, EIA Natural Gas Report at 10:30. All times EST.
Last Night: Price has drifted from the high.
Edge: Could see a drift back to test some of yesterday's range.
Some FED talk today. Perhaps shaking up the tree. We have an bullish day yesterday. Globex traded inside.
7/8/9 AM: Traded down to the 5004 and holding
Today: Potential to retrace yesterday's range.
Bulls Want: 12, 14, 24
Bears Want: 96, 89, 83
Globex: 13 handle trading range on 98 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.06
Shape of the day: Normal, Wedge Zoom, Link a Stink
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH
Bill Fish (4H/4D) Held existing longs. LONG
Tuna (30m 1+D) Held existing longs. LONG
Sardine (5M-1D) Got long at AM LOW out at MID AM HIGH. OUT.
Pre Opening: After holding the 05 the past few hours. Price has started to lift offers trading the 10 and higher.
The clock is used for timing your entries and exits. Position long at the lows exit at the highs. Get short at the highs buy in at the lows. When the trend is in, WB's clock is your friend!
Your edge is a series of trades, not just one trade or one day.
Dates: February 24 Snow Moon 7:30 a.m. Spring Equinox March 20 5:24 pm (all times est)
Comments are closed